Payroll liabilities are a major concern for accountants during the filing of taxes. QuickBooks users have reported this issue on a large scale. It is important to note that this issue is caused because of incorrect tax assessment. Furthermore, zeroing out payroll liabilities is important to prevent miscalculations while paying taxes. Here, we have discussed the walkthrough to zero out payroll liabilities in QuickBooks. So, stick around.

When is it important to zero out Payroll Liabilities in QuickBooks?

One should zero out payroll liabilities in QuickBooks in the following cases:

• Workers not getting checks.
• Employee remuneration equaling the net anticipated compensation.
• When adjusting the Health Savings Account under the Company obligations.